ON (NYSE:ONON) Price Target Increased to $38.00 by Analysts at TD Cowen

ON (NYSE:ONON) had its price target increased by TD Cowen from $36.00 to $38.00 in a report released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. TheStreet cut shares of ON from a c rating to a d+ rating in a research report on Monday, March 18th. William Blair initiated coverage on shares of ON in a report on Tuesday, April 16th. They issued an outperform rating for the company. Evercore ISI reduced their target price on shares of ON from $40.00 to $37.00 and set an outperform rating on the stock in a report on Wednesday, March 13th. Redburn Atlantic reissued a neutral rating and issued a $34.00 price target on shares of ON in a research note on Thursday, March 7th. Finally, Piper Sandler raised their price objective on ON from $37.00 to $39.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, ON has an average rating of Moderate Buy and an average target price of $37.33.

ON Price Performance

NYSE:ONON traded up $0.53 during trading hours on Thursday, hitting $33.27. The stock had a trading volume of 2,391,279 shares, compared to its average volume of 3,380,708. ON has a one year low of $23.41 and a one year high of $37.08. The firm has a market capitalization of $20.95 billion, a price-to-earnings ratio of 123.22, a P/E/G ratio of 1.15 and a beta of 2.17. The company has a 50 day simple moving average of $33.23 and a two-hundred day simple moving average of $29.86.

ON (NYSE:ONON) last announced its earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The business had revenue of $504.69 million during the quarter, compared to the consensus estimate of $515.30 million. Equities research analysts anticipate that ON will post 0.65 earnings per share for the current year.

Institutional Trading of ON

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in ON by 4.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock worth $46,076,000 after acquiring an additional 76,746 shares during the last quarter. Liontrust Investment Partners LLP lifted its holdings in shares of ON by 204.7% during the third quarter. Liontrust Investment Partners LLP now owns 517,942 shares of the company’s stock valued at $14,410,000 after purchasing an additional 347,942 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of ON by 127.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock valued at $3,549,000 after buying an additional 73,839 shares during the last quarter. Jennison Associates LLC increased its holdings in ON by 7.6% in the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock worth $219,416,000 after buying an additional 554,513 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. lifted its stake in ON by 10.3% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 292,338 shares of the company’s stock valued at $8,133,000 after acquiring an additional 27,206 shares during the period. 33.11% of the stock is owned by hedge funds and other institutional investors.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.